Lease Administration is accomplished as one of the ‘initial’ steps in setting up a new property in our system. In its simplest terms it is detailing of the tenant obligations as outlined in the underlying lease agreement together with an analysis of the Tenant’s financial obligations as it pertains to base rent, CAM, real estate taxes, insurance, percentage rent, and other charges.

Each lease is carefully reviewed and entered into our Skyline commercial property management software program. Each Tenant file is then setup as its own with a fully detailed, printed abstract in each file cover. This allows not only accounting, but property managers to easily access and ‘assess’ the requirements of each lease as it pertains to each specific Tenant.

Administration goes beyond that in allowing our accounting staff or property managers review individual Tenant responsibilities as to maintenance requests, escalations, lease terminations, option provisions, monetary obligations as to late fees, additional assessments, etc. This becomes very important in knowing how to communicate and assist tenants in understanding their level of responsibility as governed by their lease agreement. Each and every lease can be negotiated independently.